It all started when Failblog featured this amusing little conspiracy video:
Surely a joke? I prodded further, to try and find out more about it. ~ The Rainbow Conspiracy ~ CRAZY, NEVER BEFORE SEEN FOOTAGE!!, and Conspiracy are definitely parody, as is this response, but then I spotted a term, and did a search for 'chembow'.
But none of these link the mysterious rainbows to the Gay Agenda. I'm most disappointed!